Commission Decision No. 012-M-009/2023
Proposed Joint Venture between Cavitex Holdings, Inc. and House of Investments, Inc. to form the Sangley Point International Airport Development Consortium in relation to the Joint Venture Agreement with the Provincial Government of Cavite to Build and Operate the Sangley Point International Airport
Abstract:
The SPIA Project is a priority infrastructure development and major capital investment of the PGC and is one of the flagship infrastructure projects of the country for which the Department of Transportation (“DOTr”) gave its No Objection Clearance. It is envisioned as a first class, world class major international gateway and hub airport that will directly address and solve the worsening air traffic and passenger congestion in the country’s current main international gateway, the Ninoy Aquino International Airport (“NAIA”). The SPIA Project is also expected to facilitate economic development in the PGC and create new sources of revenue and generate new employment opportunities in the PGC and nearby areas.
The transaction is a joint venture between the Provincial Government of Cavite (“PGC”) and a consortium of different domestic and foreign companies (the “SPIA Consortium”) for the purpose of developing, owning, operating, managing, and maintaining the Sangley Point International Airport Project (the “SPIA Project”). This is a Public-Private Partnership Project undertaken through the Province of Cavite’s PPP Code.
The SPIA Consortium is composed of Equity Members and Nominated Contractors. The Equity Members consist of: (1) Cavitex Holdings, Inc. (“CHI”); and (2) House of Investments, Inc. (“HI”). On the other hand, the Nominated Contractors consist of the following corporations: (1) MacroAsia Corporation (“MacroAsia”); (2) Samsung C&T Corporation (“Samsung”); (3) Munich Airport International GmbH; and (4) Ove Arup & Partners Hongkong Limited (Philippine Branch) (“Arup”).
###